Bank-Owned Loxley Mini Storage in AL Sold for $375,000

Loxley Mini Storage in Loxley, Ala., sold March 31 to a local investor for $375,000. The facility was owned by Regions Bank. The property has 29,115 rentable square feet of storage space, 5,720 square feet of residential area and 10,642 square feet of commercial/retail space.

Bill Barnhill, Stuart LaGroue and Shannon Barnes of Omega Properties Inc. brokered the sale. The brokers are part of the Argus Self Storage Sales Network, covering the Alabama, Mississippi and Florida panhandle markets.

Based in Denver, the Argus Self Storage Sales Network was formed in 1994 to assist owners and investors of self-storage. Argus has 36 broker affiliates covering nearly 40 markets.